Broker-Dealers

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Wells Fargo, LPL, Raymond James To Reimburse $30M In Fees, Says Finra

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Three major securities brokerages must collectively reimburse customers more than $30 million for failing to waive mutual fund sales charges for thousands of accounts.

Advisor Pay Dissatisfaction At Investment Firms Growing, Survey Says

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Advisors employed by investment firms are increasingly dissatisfied with their pay, according to a J.D. Power survey released Wednesday.

New Online Tool Sets Price For Your Advisor Business

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3xEquity is offering advisors an online tool to help them assess when the time—and price—is right to sell their businesses.

Edward Jones Reviews Mutual Fund Fees Charged To Customers

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Edward Jones is reviewing its records to see if some fund customers were eligible for fee waivers they did not receive.

Morgan Stanley, Scottrade Settle Finra Actions Over Wire Transfers

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Morgan Stanley has agreed to pay a $650,000 fine, and Scottrade $300,000, in settling Finra allegations that the firms failed to properly supervise wire transfers.

Wall Street Diverges As Gorman And Blankfein Take Opposite Paths

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One grew up in Brooklyn public housing and shared a bedroom with his grandmother. The other was born half a world away, the son of an engineer in a comfortable Melbourne household.

Fidelity: Execs Acknowledge Advisor Talent Drought, But Lack New Recruiting Ideas

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Baby boomer retirements are increasing demand for financial advisors, but most broker-dealers and RIAs report a talent shortage and a reluctance to adopt new recruiting methods.

JPMorgan's Jimmy Lee, Advisor On Megadeals, Dies Unexpectedly

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Jimmy Lee, 62, one of JPMorgan Chase & Co's most senior investment bankers, died unexpectedly on Wednesday.

Hank Greenberg’s Starr Wins Trial But No Damages In AIG Suit

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The U.S. set illegal terms in demanding AIG stock for an $85 billion bailout during the financial crisis, but that doesn’t mean AIG investors deserve compensation, a court ruled.

Now Hiring Women And Millennials

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Large money managers are actively searching for more women and younger financial advisors to better reflect the changing face of society.

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